FSA welcomes the BBA and Nemo's decision to accept the High Court's PPI judgment
9th May 2011The Financial Services Authority (FSA) welcomes the decision by the British Bankers' Association (BBA) and Nemo Personal Finance (Nemo) to accept the High Court's dismissal of their legal challenge to the FSA's payment protection insurance (PPI) measures.
Banks must now get on with handling all PPI complaints and paying redress where appropriate - the FSA stands ready to work with them on the practical implications of this.
Today signals the end of years of poor PPI complaint handling and will trigger a dramatic improvement in the way customers are treated when making complaints. There have been more than 1.5 million complaints made about PPI since the FSA took over regulation of PPI in 2005.
